Gartner (NYSE:IT) Price Target Cut to $510.00

Gartner (NYSE:IT - Free Report) had its target price lowered by UBS Group from $550.00 to $510.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider's stock.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a hold rating and a $507.00 target price for the company. StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a research report on Saturday, February 10th. Morgan Stanley increased their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Robert W. Baird lowered their price objective on shares of Gartner from $536.00 to $517.00 and set an outperform rating for the company in a research report on Wednesday. Finally, BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Gartner currently has a consensus rating of Hold and an average price target of $477.50.

Gartner Price Performance

Shares of NYSE IT traded up $9.80 during midday trading on Wednesday, reaching $422.39. The stock had a trading volume of 922,717 shares, compared to its average volume of 407,762. The stock has a 50-day moving average of $464.22 and a 200-day moving average of $440.03. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $32.93 billion, a price-to-earnings ratio of 38.18, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. Gartner has a 12-month low of $295.43 and a 12-month high of $486.54.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.47 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $2.88 earnings per share. As a group, research analysts anticipate that Gartner will post 11.29 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, EVP Claire Herkes sold 1,460 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now owns 2,842 shares in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares in the company, valued at approximately $2,433,777.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company's stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BSW Wealth Partners increased its position in Gartner by 3.7% during the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider's stock valued at $278,000 after purchasing an additional 22 shares during the period. Allworth Financial LP increased its position in Gartner by 2.8% during the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider's stock valued at $364,000 after purchasing an additional 22 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in Gartner by 0.5% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider's stock valued at $2,210,000 after purchasing an additional 22 shares during the period. AdvisorNet Financial Inc grew its position in shares of Gartner by 59.5% in the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider's stock worth $30,000 after buying an additional 25 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Gartner by 36.2% in the 4th quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider's stock worth $42,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.